HUDCO share price surges 26% in 2 days on stellar Q4 numbers
HUDCO, on June 26, reported a whopping 86.6% YoY growth in consolidated profit at Rs 440.9 crore for the quarter ended March 2020
June 30, 2020 / 11:40 AM IST
Shares of state-owned Housing & Urban Development Corporation (HUDCO) jumped over 6 percent in the morning trade on June 30 rising over 26 percent in the last 2 days after the company reported stellar performance in Q4.
The stock price surged over 87 percent in the last 3 months and was trading at Rs 35.60, up Rs 2.20, or 6.59 percent at 09:29 hours. It witnessed spurt in volume by more than 1.10 times and was one of the most active stocks on NSE with 57,07,053 shares being traded. HUDCO was also the top BSE midcap gainer.
HUDCO, on June 26, reported a whopping 86.6 percent year-on-year growth in consolidated profit at Rs 440.9 crore for the quarter ended March 2020, driven by operating as well as revenue performance.
Consolidated revenue from operations in Q4FY20 grew by 28.1 percent to Rs 1,888.5 crore compared to year-ago.
On the operating front, earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 31.2 percent YoY to Rs 1,724.2 crore and margin increased 220 basis points YoY to 91.3 percent in the quarter ended March 2020.
In the full year FY20, consolidated profit surged 44.8 percent to Rs 1,708.2 crore and revenue increased 35.8 percent to Rs 7,532.12 crore compared to the previous year.
According to Moneycontrol SWOT Analysis powered by Trendlyne, HUDCO has zero promoter pledge with the stock showing strong momentum - price above short, medium and long term moving averages.
Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.